The steady drip of data breaches on the news and in consumers' lives isn't doing anything to build confidence in the state of today's business environment. At the heart of the matter: data privacy, or perhaps more accurately, the lack of it.
A new report from PwC, "10 Minutes on Data Privacy," points out that privacy is evolving beyond a risk and regulatory issue. Winning consumer trust is essential, and privacy polices directly correlate with brand image. How businesses manage data privacy and communicate with customers says everything about public perceptions of trust.
According to the report, 89 percent of consumers surveyed said they avoid doing business with companies they believe do not protect their privacy online, and 85 percent of investors said boards should be involved in overseeing the risk of compromising customer data.